SolaREIT Closes $100M Solar Lease Securitization with Nuveen
Rockville, MD-based SolaREIT, a solar real estate investment fund, has closed on a $100-million securitization of solar leases with Nuveen. The expansion will increase access to low-cost capital in the commercial and mid-sized solar development sector, including community solar.
SolaREIT’s land financing options allow landowners to receive solar lease payments immediately, which expands financial flexibility and access to capital for both solar developers and landowners.
“This deal is an important step in creating the financial flexibility that allows solar to be a smart investment decision for real estate owners,” said Chris Miller, managing director at Nuveen. “The mid-sized and commercial solar sector has been underserved for years but holds tremendous promise. Increasing capital flexibility into this segment can have a significant impact on the market growth of solar, and ESG focused investments such as SolaREIT can help create value for our clients today and preserve value for tomorrow’s world.”
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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